Whales Move 44 million XRP, Jumps To $1.54
XRP tokens were transferred from well-known exchanges to unidentified wallets amid high buying pressure in the Ripple-based token.
Two significant XRP transactions totaling roughly 44 million XRP as seen on WhaleAlert. 18.7 million units of XRP, were transferred from Binance to an unidentified wallet in the most recent transaction.
In addition, a transfer of 25 million XRP, was made from Upbit to an unidentified wallet. These transfers adhere to an increasing pattern of XRP whale activity, which may signal an impending XRP price peak. Institutional investors are gathering tokens for long-term holdings via exchanges to unidentified wallets.
Santiment’s on-chain data demonstrates that holders of XRP booked profits this week to profit from the recent highs of the token. If investors are taking profits and selling their tokens, these cryptocurrency profits demonstrate it. They experienced notable increases this week, culminating in a cumulative peak of $1.09 billion, the highest since the beginning of 2021.
Interestingly, the most recent one was for XRP in May 2021, which also happened to be the peak of XRP’s price. XRP jumped to $1.54 after reaching a three-year high of $1.63 last week.
The Ripple token has increased by 180% this month, surpassing a significant dynamic resistance level that only existed four years ago. Additionally, from a technical analysis standpoint, XRP may likely gain more upsides because of the golden cross forming on the cryptocurrency’s weekly chart.
Ripple recently received a significant boost—a U. S. court granted its request to expedite the XRP lawsuit’s final ruling. The case, which has been dragging on for years, may now be resolved sooner rather than later with SEC Chair Gary Gensler resigning in January.
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